Fire insurance puts homeowners in a difficult position

If your neighbor doesn’t have insurance, or carries a large policy, getting money from your neighbor or their insurance can be a big deal. Your neighbor may have insurance, but not enough to pay for his yard repairs. They may also carry an insurance policy that can cover not only the restoration of your property but also your financial losses due to the fire.

Your insurance company may have already considered this and filed a claim against your neighbor’s insurance to cover the cost of repairs and out-of-pocket expenses for your home in the city.

That doesn’t mean it isn’t worth exploring. Talk to an experienced insurance claims attorney about your options and whether it’s worth doing an initial inspection to make sure you have a good chance of getting something from the neighbor or the their insurance.

Why do we say this? Let’s say your neighbor’s liability limits are on their insurance policy $300,000, and the insurance company paid most of that to the neighbor and their creditor (since there was a mortgage on the property). We doubt you’ll make any money if you chase the border at that point.

But if the border is a million dollars the limit of their policies, but only use $300,000You have the right to recover and recover your attorney’s fees.

Ilyce Glink the CEO of Best Money Moves and Samuel J. Tamkin a real estate attorney. Contact them through the website

Note: An attorney with experience in insurance claims may be able to help after a fire. Time of dreams

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